Gold Up Big After Fed Announces QE 2

As The Federal Reserve puts hundreds of billions of dollars into the economy, diluting the money supply, and lowering the value of the US dollar, gold is turning into an attractive way to hedge again possible future inflation. Although inflation is not a worry today, fears that the billions of dollars in extra money supply will eventually raise everyday prices, has really helped the precious metal. Commodity prices are already rising, meaning that everyday prices of goods will also too eventually rise, lowering the spending power of the dollar.

Over the last 12 months the price of gold has risen a staggering 25%, or $286.90 per ounce. Other precious metals are also all up this morning including platinum and silver.

Texas Elections Results Indicate Rick Perry Has Won

The election for Governor of Texas included incumbent Republican candidate, Rick Perry, against rival Democrat Bill White. With 99% of all votes accounted for in Texas, Rick Perry has won 55% of them, which Bill White walked away with 42% of the vote. In total Perry received 2,733,784 votes to White’s 2,102,606. Perry is just one more Republican in the US winning a Governor’s race, after their party also dominated in several key Senate and House elections.

Elsewhere within Texas politics, 32 seats in the House were up for grabs. Out of the 32 district votes, 23 Republicans won, while just 9 Democrats walked away victors. There were several blowouts as election results began coming in. District 1 went to Republican Louie Gohmert who commanded 90% of the vote. District 2 also went to a Republican, Ted Poe, who garnered 89% of the vote. Overall the Republicans have to be feeling pretty good about themselves after many key victories in Texas.

Did Harry Reid Steal the Nevada Election?

Four pre-election polls, just days before Tuesday’s elections indicated that Angle was ahead of Reid. A Rasmussen Poll conducted Monday showed Angle leading Reid 48-45, while a poll conducted by Public Policy Polling showed Angle ahead 47-46, which was also conducted on Monday, the day prior to the elections. A recent article on Prison Planet asks if Reid did in fact steal this election, bringing up the point that early voting in Clark County showed that some machines may have automatically checked Harry Reid’s name on ballots.

Maybe there will be an investigation into voter fraud, but the likely cause of the discretions are probably just polling errors. There were several pre-election polls in other states which ended up a far cry from the actual election results. For instance, in the Florida Governor’s race, most late polls indicated that Alex Sink was slightly ahead of Scott, however Scott has walked away the victor. In the Illinois election for Governor, Bill Brady was predicted to win by several points, however, it looks like Pat Quinn may in fact walk away the victor.

Is it possible that Harry Reid may have somehow rigged machines and stole this election? Sure. Is it likely? No.

Delaware Election Results Shows O'Donnell Loss

The Delaware Senate seat will end up going to the Democrats this election year as Christine O’Donnell just didn’t have enough votes to push her way into a Senate seat. With 99% of all votes counted in the state, Democrat Christopher Coons has defeated Republican Christine O’Donnell 57% to 40%. Coons commanded 173,900 votes, while O’Donnell received a respectable 123,025. Despite winning two of Delaware’s three counties, Kent and Sussex, O’Donnell lost big in the states most populated county of New Castle.

O’Donnell received 44% of the male vote in this election, while only getting 36% of the female vote, which is relatively surprising considering the 41 year old female should have appealed more to voters of her own sex. Despite the loss, she put up an amazing fight just to win the primary election over Mike Castle. Coons who was expected to win, did just that, using his political background in New Castle County to secure a large portion of votes in Northern Delaware.

Nancy Pelosi Calls John Boehner to Congratulate Him

Word has come from John Boehner himself this morning that Nancy Pelosi has reached out to congratulate him as well as the Republicans in this 2010 election. Boehner stated, “The speaker attempted to reach me this morning, left me a very nice voicemail and I expect that we will have a very smooth transition with her office”.

It is unknown if Pelosi will run for the House Minority Leader position, now that the Democrats no longer hold the Majority. The 60 year old, Boehner, who has a long career in politics has a wife, Debbie, who he has been married to since 1973, and two daughters, Tricia, and Lindsay. John Boehner, in the past, earned praise from both sides of the aisle, the Republicans as well as Democrats. Recent battles in Congress has caused many Democrats to give him anything but praise, however, recently.

Obama to Deliver Post Election Speech After Pelosi Loses Speaker Spot

In the Senate, Democrats also lost a ton of seats, however they will still hold a slim majority among Senators. It should be interesting to see what exactly Obama will say to American’s in a speech that the President likely is not looking forward to giving. The final two years of Obama’s first term will certainly be a difficult one, likely having several bills stuck in gridlock. Nancy Pelosi will likely be replaced by John Boehner as the Speaker, however the Senate majority leader’s seat will remain in the hands of Democrat Harry Reid.

South Carolina Election Results Show a Haley Victory

With 95% of all votes in South Carolina counted, the race for governor remains close, but has gone to Republican, Nikki Haley. Haley leads Democratic Rival Vincent Sheheen 51% to 47%. Polls leading up to the election gave Haley a 7-8 point lead, so the Democrat fared a bit better than many had expected. Nikki Haley will succeed fellow Republican Mark Sanford, and take office in South Carolina in January. Haley, just 38 years old, currently represents Lexington County in the South Carolina House of Representatives.

The other major vote in South Carolina was for a Senate seat. The race for senate was between three main competitors. Incumbent Republican Jim Demint, Democrat, Alvin Greene, and Green Party candidate Tom Clements. With 95% of the votes tallied, Demint has 62% of them, while Greene has 28%, and Clements 9%. Demint has easily won the seat, even though all the election results in the state have not been recorded.

Nevada Election Results Point to Harry Reid As The Victor

After seeing the results from 99% of all precincts in the state of Nevada, Democrat Harry Reid has defeated Republican rival, and Tea Party candidate, Angle 50% to 45%. Harry Reid had an up hill battle after voters had place part of the blame for recent economic woes in the state, on his shoulders. Nevada has been hampered with a major foreclosure problem, especially in the Las Vegas area. In addition to the real estate mess within the state, they also have one of the nations highest unemployment rates. Despite all this, Harry Reid has managed to hold on.

Elsewhere in the nation, Democrats barely managed to hold on to their majority in the Senate. After losing the House of Representatives by a large margin to the Republicans, a loss of the Senate would have been catastrophic for the party. Despite all the seats that Republicans have gained in the Senate in this 2010 election, the Democrats will continue to hold the majority there, meaning that Harry Reid will continue as the Senate Majority Leader.

Nancy Pelosi Loses House Control After Election Results Come In

In early projections this morning, The Republican party is projected to have at least 239 seats in the House, while Democrats have been projected to win at least 184 seats. This means that only 12 seats are still up for grabs, making it impossible for Democrats to hold on to the majority. A party only needs 218 seats in the House of Representatives to control it, signifying that Republicans will now be in control for the next two years under Democratic President Back Obama.

This also means that Nancy Pelosi will no longer hold her position as Speaker of the House, likely giving it up to Ohio Republican, John Boehner. As this changing of power takes place in the House, there is now doubt that Pelosi will even stay on as House Minority Leader. Nancy Pelosi assumed office as Speaker in 2007, and is the 60th person to hold such office. The 70 year old from California’s 8th Congressional District was the first female to lead the House of Representatives in the History of the United States.

Colorado Election Results Show Bennet and Buck in Tie

In a hard fought battle for months, incumbent Democratic Candidate Michael Bennet took on Republican candidate Ken Buck. As the election neared, recent polls indicated that Buck had a slight edge over Bennet, however, as we found out in years prior, pre-election polls are not always accurate. With 88% of votes counted in Colorado, Bennet and Buck are in a virtual tie with 47% of the vote each. Bennet has a slight lead with 778,261 of the popular vote compared to Buck’s 771,274, but that’s a tiny gap considering 12% of the state’s votes have yet to be tallied.

The other big election in Colorado was for Governor. This race has been decided. With 50% of the popular vote thus far, Democrat John Hickenlooper leads American Constitution Candidate, Tom Tancredo who has 37%, and Republican Dan Maes with 11% of the votes. There were also 2 ballot measures in Colorado which both have been projected to get voted down. Amendment 62 which changes the definition of a “Person” so that abortions would practically become illegal in the state, and Amendment 63 which would make it legal for people to refuse health insurance, both have overwhelming “no” votes with 88% of votes counted thus far.